Trade Report: The Analysts Set Teligent Inc. (NASDAQ:TLGT) Target Price at $9.42

The Analysts Set Teligent Inc. (NASDAQ:TLGT) Target Price at $9.42

Teligent Inc. (NASDAQ:TLGT) has been assigned a consensus rating of “Buy” from the six analysts that are currently covering the firm. Four investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $9.42.

TLGT has been the subject of a number of recent analyst reports. Raymond James Financial Inc. initiated coverage on Teligent in a report on Wednesday, June 22nd. They issued a “strong-buy” rating and a $11.00 price objective for the company. Zacks Investment Research lowered Teligent from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 30th. TheStreet raised Teligent from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Finally, JMP Securities began coverage on Teligent in a report on Wednesday, June 29th. They issued a “hold” rating for the company.

Shares of Teligent (NASDAQ:TLGT) opened at 7.68 on Tuesday. Teligent has a 12 month low of $4.46 and a 12 month high of $9.18. The stock has a 50 day moving average price of $7.70 and a 200-day moving average price of $6.80. The stock’s market cap is $407.77 million.

Teligent (NASDAQ:TLGT) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Teligent had a negative return on equity of 1.49% and a negative net margin of 22.81%. The business earned $17.14 million during the quarter, compared to analyst estimates of $16.03 million. During the same period in the prior year, the company posted ($0.05) EPS. The business’s revenue for the quarter was up 92.8% compared to the same quarter last year. On average, analysts forecast that Teligent will post $0.05 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System raised its position in shares of Teligent by 0.8% in the second quarter. California Public Employees Retirement System now owns 25,600 shares of the company’s stock worth $183,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Teligent by 0.8% in the second quarter. ProShare Advisors LLC now owns 44,563 shares of the company’s stock worth $318,000 after buying an additional 362 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Teligent by 4.9% in the second quarter. Alliancebernstein L.P. now owns 36,200 shares of the company’s stock worth $258,000 after buying an additional 1,700 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Teligent by 7.5% in the second quarter. Teachers Advisors Inc. now owns 64,806 shares of the company’s stock worth $463,000 after buying an additional 4,507 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its position in shares of Teligent by 5.9% in the second quarter. BlackRock Investment Management LLC now owns 160,934 shares of the company’s stock worth $1,149,000 after buying an additional 8,923 shares during the last quarter. 69.62% of the stock is owned by hedge funds and other institutional investors.

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